[Fastskiguy]

Originally Posted by Blueblaze

If the insurance companies don't regain their senses soon, I'll be tempted to "self insure" -- in other words, just do without. When the house is paid off, insurance is kind of dumb, when you think about it. It's kind of like keeping that million dollar life insurance policy you had before the kids left home and you retired. What are you insuring against?

On the 1-in-a-million chance your house is reduced to rubble, what's the worst that happens? You wind up with a mortgage to rebuild? OMG! Wait... maybe that's not as bad as the 100% certainty of handing over four mortgage payments every year to an insurance company -- until the day you die -- FOR NOTHING.

OK, maybe a windstorm merely blows your roof off? What did your four-mortgage-payments- a-year-til-the-day-you-die buy you? A $20K roof you were going to have to buy someday yourself, anyway?

I'm willing to buy a reasonable amount of insurance against disaster. I'm not willing to spend twice the grocery bill to insure against groceries.

The insurance industry has become a scam. If they don't pull their head out soon, they may wake up one morning to discover that 50 million retirees without a mortgage have suddenly realized they have enough scams in their life.

100% agree!!!

Joe